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2024-10-06 03:13:02
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Summary of Biden's student loan cancellation free to move forward as court order expires

Summary of Biden's student loan cancellation free to move forward as court order expires
https://media.zenfs.com/en/ap.org/4c0608b607125a6ced3c2732b85f0e1c

The source article:
Biden's student loan cancellation free to move forward as court order expires
https://media.zenfs.com/en/ap.org/4c0608b607125a6ced3c2732b85f0e1c



https://www.yahoo.com/news/bidens-student-loan-cancellation-free-202116675.html


President Joe Biden's student loan cancellation plan faced legal challenges in federal court. A judge in Georgia ruled Georgia lacked standing and transferred the case to Missouri. The Biden administration may proceed with the proposal, potentially canceling up to $20,000 in interest for 30 million borrowers. Republican states claim the Education Department moved too quickly towards cancellation. Missouri, supported by other states, argues on behalf of a loan servicer facing potential revenue loss. The Education Department is urged to act swiftly by the courts to prevent mass loan cancellations.
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